The Dow Jones Industrial Average rose on Tuesday as a result of a lower-than-expected CPI inflation. Cathie Wood’s Ark Invest has sold a combined 393,000 shares of Tesla stock, It is worth about $92 million Based on Monday’s closing prices.
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The consumer price index for May rose 0.1% for the month, below estimates of 0.2%, with annualized inflation declining to 4.0%, below estimates predicting a decline to 4.1% from 4.9%. Core CPI, excluding food and energy, rose 0.4%, in line with expectations, and lowered core inflation to 5.3% from 5.5%.
Meanwhile, the Federal Reserve’s two-day meeting begins on Tuesday. The Fed is widely expected to skip a rate hike at its two-day policy meeting that concludes on Wednesday at 2pm ET. The move would halt 10 consecutive price increases that began in March last year.
finally, inspiration (ORCL) was issued late Monday, beating Wall Street estimates. ORCL shares jumped 5% in early trade. The shares closed on Monday in the 20%-25% gain zone of 91.22 CUP with a handle buy point following the breakout move in late March.
stock market today
Giant EV Tesla (TSLA), now up 12 days in a row, up another 1.3% on Tuesday morning. That was even after Cathie Wood’s Ark Invest disclosed the stock sale. Ark Invest also sold about 20,000 shares of the company nvidia (NVDA). Nvidia shares advanced nearly 2% early on Tuesday.
Dow Jones Tech Giants apple (AAPL) And Microsoft (MSFT) traded mixed after the stock market opened today. Intel (INTCShares jumped more than 2% after that reports said UK-based SoftBank Group subsidiary Arm is in talks with Intel as a potential strategic investor for its initial public offering.
dexcom (DXCM), floor and decoration (FND), fortinet (FTNT) And Kinsale Capital (KNSL) – as well as Dow Jones shares Cisco systems (CSCO), c. B. Morgan Chase (JPM) And sales force (CRM) – among the best stocks to buy or watch in an uptrend of the stock market.
Tesla is IBD Leaderboard stock, while Floor & Decor was IBD stock of the day on Thursday.
Dow jones today: oil prices and treasury yields
After the opening bell on Tuesday, the Dow Jones Industrial Average rose 0.3%, while the S&P 500 rose 0.35%. The heavy Nasdaq Composite pared gains to 0.2% in the morning move.
Among the US ETFs, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ(up 0.1%, while the SPDR S&P 500 ETF traded)spy) rose 0.3% early on Tuesday.
After the CPI inflation data, the 10-year US Treasury yield fell on Tuesday to 3.71%. On Monday, the 10-year yield rose, still near its highs from late May.
Oil prices rebounded again in early trading on Tuesday after Monday’s sharp losses. WTI futures rebounded nearly 2% on Tuesday, back above $68 a barrel — still at the low end of what has been WTI’s trading range since early May.
Stock market action
On Monday, the Dow Jones Industrial Average rose 0.6%. The S&P 500 rose 0.9%, while the technology Nasdaq Composite rose 1.5%, hitting a new 2023 high.
The Big Picture column commented Monday, “June – historically a weak month for the market – is a success so far. The S&P and Nasdaq are up nearly 4%. From eight sessions so far this month, the S&P 500 and Nasdaq are up in six of the strength caused the index to rally. S&P has in recent sessions removed the May 9 Distribution Day, leaving this index with four more manageable days of bulk selling.”
Now is an important time to read IBD’s The Big Picture column after the recent upward change in market expectations.
The five best Dow stocks to buy and watch right now
Dow Jones Stocks to Buy and Watch: Cisco, JPMorgan, Salesforce
Networking giant Cisco Systems in the Dow Jones added a handle to the base of the cup last week, and it now shows a buy point at 50.58. CSCO stock rose 0.7% on Tuesday.
JP Morgan, the Dow Jones banking leader, is approaching 143.37 steady-based buy points after a four-day winning streak. The shares are only 2% away from their last buy point. JPM shares fell 0.6% early on Tuesday.
Previous Salesforce has climbed in alternate entries at 193.91 and 200.00 in recent weeks, according to Leaderboard analysis.
In recent weeks, the shares have reached the 20% gain zone of 178.94 handle entry cups, and are now bouncing off the support at the 10-week line. CRM stock rose 0.8% Tuesday morning.
4 top growth stocks to watch in Stock market rise
Best stocks to buy and watch: Dexcom, Floor & Decor, Fortinet, Kinsale
Dexcom broke through the 126.44 buy point of the flat base, up 2.1% on Monday, according to IBD MarketSmith pattern recognition. The buy area rises by 5% to 132.76. DXCM shares rose 0.7% on Tuesday.
IBD SwingTrader Floor & Decor stock decisively reclaimed its 50-day line during Wednesday’s rally of 5.1%, putting the flooring retailer in a new buy territory. FND stock is just 4% off its traditional buy point of 101.39. Shares rose 1.2% early on Tuesday.
Insurance leader Kinsale Capital closed Monday in 5% buy territory with 345.75 buy points despite a 2.1% drop in the session. Buy zone reaches 363.04. KNSL stock rose 0.7% Tuesday morning.
Last day IBD stock Fortinet rose again above its stable base buy point of 69.07 during Monday’s 2.7% rally. The buy zone rose to 72.52. FTNT stock rose 0.9% on Tuesday.
Learn how to time the market with IBD’s ETF market strategy
Best stocks to buy and watch the stock market rise
These are the top four stocks to buy and watch in the stock market today, including leader Dow Jones.
| Company Name | Code | The right point of purchase | Point of purchase type |
|---|---|---|---|
| ASML | (ASML) | 683.18 | mug with handle |
| sales force | (CRM) | 200.00 | merge |
| Cloud Flair | (network) | 66.20 | Double bottom |
| fortinet | (FTNT) | 69.07 | Flat base |
Source: IBD data as of June 12, 2023
Join IBD experts as they analyze the leading stocks of the current stock market rally on IBD Live
Tesla stock
IBD Leaderboard Tesla rose 2.2% on Monday, moving out of a buy range beyond the 207.79 buy point of the double bottom. On Monday, the shares closed 21% off their 52-week high.
TSLA stock appeared to be adding to its extended winning streak, rising 1.3% Tuesday morning. Last week, shares rose for the fourth straight week, racing up 14%.
Dow Jones leaders: Apple and Microsoft
Among Dow Jones stocks, Apple Inc rose for a third day, with a gain of 1.6% on Monday. Shares hit an all-time high of 184.95 last week and are far from that level. The stock continues to settle sharply above 157.38 buying points. Early Tuesday, AAPL stock fell 0.4% after UBS cut the stock’s rating from buy to neutral, while raising its price target from 180 to 190.
Microsoft shares rose 1.55% on Monday, rebounding for the third consecutive session and close to recovering from the 3.1% sell-off on Wednesday. MSFT stock continues to hover around the 20%-25% profit-taking zone from 276.76 flat-base buy points, so investors could have taken some profit at least. And Tuesday morning, Microsoft shares rose 0.9 percent.
Be sure to follow Scott Lehtonen on Twitter at @tweet Learn more about developing stocks and the Dow Jones Industrial Average.
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